Flash Gage – Palladium Jumps

Technical levels have been broken thru the $1,010 level in spot Palladium. Currently, Palladium is up over $30 dollars since the futures opened.

In the age of electronic trading it’s has ever become more difficult to identify the participants.

But according to my technical friends who just chart the markets and use the charts only to make a living, they tell me that they heard commodity funds have now reemerged back into the Palladium market.

Based on the trading activity, I must admit it’s a definite possibility. We will see if the open interest changes dramatically tomorrow to confirm that.

Technically, according to the charts the next level of resistance in Spot Palladium is $1,057. This morning, the Palladium EFP was quoted in a backwardation at minus 9 minus 5. We will be watching closely over the next few days to see if the switch widens out.

Have a wonderful day.

Disclaimer: This editorial has been prepared by Walter Pehowich of Dillon Gage Metals for information and thought-provoking purposes only and does not purport to predict or forecast actual results. This editorial opinion is not to be construed as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein cannot be attributable to Dillon Gage. Reasonable people may disagree about the events discussed or opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, results are likely to vary substantially. It is not a solicitation or advice to make any exchange in commodities, securities or other financial instruments. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisers with respect to these areas. By posting this editorial, you acknowledge, understand and accept this disclaimer.